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Bank of N.T. Butterfield (NYSE: NTB) grants RSUs to 10% owner MD

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

McWatt Michael reported acquisition or exercise transactions in this Form 4 filing.

Bank of N.T. Butterfield & Son Ltd Managing Director, Cayman, Michael McWatt reported two compensation-related awards of restricted stock units. He received 511 RSUs under the ELTIP and 63 RSUs under the EDIP, each representing one ordinary share upon vesting between 2027 and 2029.

Positive

  • None.

Negative

  • None.
Insider McWatt Michael
Role Managing Director, Cayman
Type Security Shares Price Value
Grant/Award Restricted Stock Units - EDIP 63 $0.00 $0.00
Grant/Award Restricted Stock Units - ELTIP 511 $0.00 $0.00
Holdings After Transaction: Restricted Stock Units - EDIP — 7,142 shares (Direct); Restricted Stock Units - ELTIP — 58,037 shares (Direct)
Footnotes (4)
  1. F1. Each restricted stock unit represents a contingent right to receive one share of common stock upon vesting/settlement.
  2. F2. The restricted stock units vest 12-Feb-2027, 10-Feb-2028, 9-Feb-2029 subject to continued service through each vesting date.
  3. F3. These restricted stock units do not expire; they either vest and settle or are forfeited/cancelled prior to the applicable vesting date.
  4. F4. The PSUs will vest on the third anniversary of the Grant Date 12-Feb-2027, 10-Feb-2028, 9-Feb-2029
ELTIP RSUs granted 511 units Restricted Stock Units - ELTIP grant on 2026-05-27
EDIP RSUs granted 63 units Restricted Stock Units - EDIP grant on 2026-05-27
ELTIP RSUs after grant 58,037 units Total ELTIP RSUs following 2026-05-27 transaction
EDIP RSUs after grant 7,142 units Total EDIP RSUs following 2026-05-27 transaction
Vesting dates 12-Feb-2027, 10-Feb-2028, 9-Feb-2029 RSU and PSU vesting schedule subject to continued service
Restricted stock units financial
"Each restricted stock unit represents a contingent right to receive one share of common stock upon vesting/settlement."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
ELTIP financial
"Restricted Stock Units - ELTIP"
EDIP financial
"Restricted Stock Units - EDIP"
PSUs financial
"The PSUs will vest on the third anniversary of the Grant Date 12-Feb-2027, 10-Feb-2028, 9-Feb-2029"
PSUs are company shares promised to employees or executives that only become actual stock if the business hits specific performance targets over a set period. For investors, PSUs matter because they link pay to measurable outcomes — similar to a conditional bonus that converts into ownership — which can influence management decisions, dilution of shares, and signals about confidence in future results.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
McWatt Michael
(Last)(First)(Middle)
65 FRONT STREET
(Street)
HAMILTONHM 12
(City)(State)(Zip)
BERMUDA
(Country)		2. Issuer Name and Ticker or Trading Symbol
Bank of N.T. Butterfield & Son Ltd [ NTB ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Managing Director, Cayman
2a. Foreign Trading Symbol
[NTB.BH]
3. Date of Earliest Transaction (Month/Day/Year)
05/27/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units - EDIP(1)05/27/2026A63 (2) (3)Ordinary shares63(1)7,142D
Restricted Stock Units - ELTIP(1)05/27/2026A511 (4) (3)Ordinary shares511(1)58,037D
Explanation of Responses:
1. Each restricted stock unit represents a contingent right to receive one share of common stock upon vesting/settlement.
2. The restricted stock units vest 12-Feb-2027, 10-Feb-2028, 9-Feb-2029 subject to continued service through each vesting date.
3. These restricted stock units do not expire; they either vest and settle or are forfeited/cancelled prior to the applicable vesting date.
4. The PSUs will vest on the third anniversary of the Grant Date 12-Feb-2027, 10-Feb-2028, 9-Feb-2029
Remarks:
/s/ Tara Hidalgo, by power of attorney for Michael McWatt05/29/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR